Absa Customers To Access Kenswitch ATMs In New Deal
Kenswitch facilitates commercial banks and other financial services participants provide global payments across the East African region. Established under the National Payments Systems modernization project of the Central Bank of Kenya (CBK), Kenswitch customers use debit cards to access financial services at any ATM, retailer, e-commerce merchant or agent.
Kenswitch Kenya Limited and Absa Bank Kenya Plc have formed a partnership that will allow the bank’s customers to access over 2200 ATMs on the Kenswitch network, thereby increasing access to banking services.
Under the partnership, over 10 million Kenswitch member bank customers can also transact on Absa’s ATM network countrywide.
“We are delighted to welcome ABSA to the Kenswitch network. The addition of ABSA to our network is a significant milestone towards our core objective of ensuring interoperable real-time payments across all banking channels. This continued growth reaffirms our commitment to increasingly providing value to our customers and deepening financial inclusion,” said Kenswitch Chairman Yousef Bazian.
Kenswitch promotes enhanced interoperability between banks to deepen financial inclusion by allowing customers to conveniently access banking services across Kenswitch branded ATM outlets in areas where their banks have no physical presence.
Speaking about the partnership, Absa Bank Kenya Managing Director, Jeremy Awori said: “Scaling our financial services through our strategic partner Kenswitch expands customer access to our banking solutions across the country. The majority of Kenyans, roughly 70% of the total population, also live in rural areas. As a result, this collaboration strengthens our banking network and makes Absa products and services more accessible, which is an important part of our customer obsession agenda.”
On her part, Kenswitch Managing Director Karimi Ithau said: “This is in line with CBK’s National Payments Strategy that seeks to provide customers with a seamless, secure and convenient and wider access to banking services as we build a collaborative payments ecosystem. This initiative is designed to create a shared platform for financial services provision that is convenient, reliable, secure and that seeks to provide wider access to financial services to ABSA customers and also to other member bank customers within our network.”
Kenswitch’s interoperable network provides over 2,200 ATMs, 20,000 plus Agency Banking outlets and over 15,000 merchant POS outlets. Kenswitch has 26 member banks connected to its local network.